Financial technology’s role in advancing social responsibility: a bibliometric review of research progress and future opportunities

• Published in: International journal of law and management
• Main Authors: AlQudah, Mohammad Zakaria, Samara, Husni, Qudah, Hanan, Nazzal, Reem, Yousef Bani Hani, Laith, Radwan, Razan Adil, Alrahamneh, Samer
• Format: Journal Article
• Language: English
• Published: 30.09.2024
• ISSN: 1754-243X; 1754-243X
• DOI: 10.1108/IJLMA-08-2024-0286

Purpose The primary aim is to identify and examine the critical success factors (CSFs) in FinTech that influence social responsibility (SR). This study aims to differentiate between internal factors (e.g. risk management, innovation, regulatory compliance, technology integration) and external factors (e.g. market conditions and regulatory changes) and offer insights into effective FinTech practices that enhance SR performance. Design/methodology/approach A comprehensive literature review using the Web of Science database analyzed 143 relevant articles. This review categorizes CSFs and assesses how FinTech practices impact SR. Findings The findings indicate that strategic FinTech practices, such as innovation in financial services, effective data management and stakeholder collaboration, are crucial for enhancing operational efficiency, fostering sustainability and improving responsiveness to social and environmental needs. This study also highlights current trends in FinTech and SR, emphasizing the integration of FinTech into broader SR strategies. Practical implications This study provides valuable insights for practitioners on how to leverage FinTech to enhance SR, including strategies for integrating innovative technologies and improving stakeholder engagement. Social implications By advancing the understanding of how FinTech can contribute to SR, this research highlights the potential for FinTech to drive positive social and environmental outcomes, fostering greater corporate responsibility and sustainability. Originality/value This research provides a novel bibliometric analysis of FinTech’s role in advancing SR, offering a comprehensive overview of the CSFs and emerging trends in this field.